Arbitration

Displaying 490 results

Topic

Finra arbitrators order Pershing to pay $648,543 to Stanford Ponzi victims

The ripped-off investors allege Pershing looked the other way when it serving as custodian and clear agent for the fraudster.

Topic

Time to rethink forced arbitration

Ending mandatory arbitration has become a top priority for consumer advocacy groups, like the Public Investors Advocate Bar Association and others, that claim investors should have the option of laying out their case before a judge or jury.

Topic

Finra resumes in-person arbitration nationwide

The organization will reopen hearings on Aug. 2 in seven jurisdictions that had remained closed. Finra postponed in-person arbitration hearings when the pandemic began in March 2020.

Topic

Finra withdraws expungement reform proposal

The measure, which would have established a special roster of arbitrators to hear broker requests to clear their records, was criticized by PIABA as being too limited to address the problem.

Topic

UBS ordered to pay $4.8 million over Puerto Rican bond sales

The wirehouse disputes the damages and asserts the case is not indicative of how other arbitration panels may rule on the investment products.

Topic

Finra set to resume in-person arbitration hearings

Finra will reopen 62 of its 69 hearing locations in July, while allowing arbitration parties to continue to request remote proceedings. Even if in-person proceedings are allowed, Finra said arbitration parties can still continue to request a remote hearing.

Topic

Finra suspension of in-person arb hearings harms investors, PIABA says

The regulator has extended its postponement of in-person arbitration proceedings through July 2, but says it expects to resume normal proceedings in some locations as coronavirus vaccinations increase.

Topic

Bills to end mandatory arbitration introduced in House, Senate

The Securities Industry and Financial Markets Association opposes the bill, saying arbitration 'promotes fair, efficient, and economical dispute resolution for all parties.'

Topic

Interactive Brokers, Schwab plan to fight $4.6 million arbitration award

The companies are concerned about bias on the arbitration panel. But an attorney for the claimants said the two failed to warn investors of red flags detected in their accounts.

Topic

Gensler quizzed on climate disclosure, mandatory arbitration in confirmation hearing

The focus on the climate and finance at the hearing likely was a harbinger of the priority the SEC will place on environmental, social and governance investing under Gensler. But Reg BI was ignored.

Topic

Warren presses Finra to review whether forced arbitration harms Robinhood customers

'Investors harmed by Robinhood’s trading restrictions should be able to argue their case in court, rather than in closed-door proceedings that are too often rigged against claimants,' Warren wrote in a letter to Finra CEO Robert W. Cook.

Topic

Finra arbitrators order J.P. Morgan, former brokers to pay $19 million

A retailing matriarch won the decision against her grandsons, who invested her money in complex products. J.P. Morgan and the grandsons were also found liable for elder abuse under Florida law.

Topic

In first, B-D that sold GPB private placements loses arbitration

The first investor arbitration claims involving the products have been decided over the past few months, but the claim against Arete Wealth Management appears to be the first substantial win for investors against a broker-dealer.

Topic

Morgan Stanley loses appeal of $3.3 million award

The U.S. Court of Appeals affirms an earlier ruling against Morgan Stanley in a case regarding the sale of Puerto Rico bonds

Topic

Wells Fargo loses defamation fight to fired broker

Amy Webster was a former bank broker for Wells Fargo Advisors for 13 years and claims the company made 'defamatory' remarks on her Form U5

Topic

Finra denies J.P. Morgan effort to clamp down on breakaway brokers

Arbitrators also rebuffed brokers’ counterclaims of defamation and unfair competition

Topic

Finra proposal to tighten expungement process heads to SEC

The rule would establish a special roster of arbitrators for expungement and set deadlines for requests

Topic

Some lawyers warming up to virtual Finra arbitration hearings

New statistics from regulator show slow pick-up, but concerns remain over use of Zoom

Topic

Court upholding $6 million award against Credit Suisse could bolster clawbacks

Arbitration lawyer says decision sends signal to ‘Wall Street bullies’; Credit Suisse points to wins in other cases

Topic

401(k) arbitration agreements still not mandatory

Sponsors have interest in adding them to their retirement plan documents, but the courts are up in the air, lawyers said